Author: admin

Shields: Political hypocrisy on deficits and the national debt

On April 1, 2018, when Thad Cochran retired after 40 years as a U.S. senator from Mississippi, he made history; Cochran was the last Republican in Congress to have ever voted to increase federal taxes. He had done so on Dec. 19, 1990, when Republican President George H.W. Bush, deeply concerned about the rising federal […]

The U.S. Is Already Facing a Debt Crisis | Opinion

The U.S. Is Already Facing a Debt Crisis | Opinion MICHAEL DOORLEY, FOUNDER, U.S. DEBT FORUM Newsweek  2/3/21 AT 9:35 PM EST The U.S. economy is hooked on debt. It requires lots of it—crisis levels of it—just to maintain the economy. As a CPA and a well-informed, patriotic American, I was concerned about our rapidly […]

What’s Driving Everything From a Market Frenzy to an Embrace of U.S. Deficits? Magical Thinking.

Traders and politicians are making new, risky arguments about low interest rates to justify their actions The Federal Reserve says it will keep short-term rates near zero for several years.   By Greg Ip – Wall Street Journal The Wall Street bulls embracing sky-high stock values and the Washington pols embracing big deficits may be ideological […]

Does the National Debt Matter?

Does the National Debt Matter? KEY TAKEAWAYS Over the past 12 years, the national debt grew from $5.3 trillion to $20.5 trillion—or 400%—while national income grew only 30%. Many analysts and policymakers question whether high levels of debt and deficit spending are sustainable. Looking at the national debt from different perspectives sheds some positive light […]

President Donald Trump promised to reduce the national debt but instead increased it. It is now at its highest level relative to the U.S. economy since the end of World War II. 

President Donald Trump promised to reduce the national debt but instead increased it. It is now at its highest level relative to the U.S. economy since the end of World War II.  ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive our biggest stories as soon as they’re published.  This story was […]

Do Republicans still have moral authority to warn about the national debt?

Do Republicans still have moral authority to warn about the national debt? Desert News – By Jay Evensen, Columnist  Jan 28, 2021, 9:20am MST As I’ve said before, the Old Testament would read a lot differently if Joseph, having been summoned from prison by a Pharaoh who was troubled by dreams, had acted like today’s politicians in […]

Both Trump And Biden Plans Would Pile On National Debt, But Trump A Little Less

Forbes, Sarah Hansen October 7, 2020   TOPLINE In a new analysis of President Trump’s and former Vice President Joe Biden’s campaign policy proposals, the Committee for a Responsible Federal Budget found that a Biden presidency would add $5.6 trillion to the national debt over ten years while a Trump presidency would add just under $5 trillion. […]

A U.S. Debt Crisis: From Denial to Reality

On September 21st, the Congressional Budget Office released a long-term outlook on government debt. In a dire warning the CBO projects that in 2050 the debt will equal 195 percent of GDP. A debt explosion of this magnitude should rightfully send shivers through the country. This is a mounting national crisis that transcends party lines […]

U.S. government debt will nearly equal the size of the entire economy for first time since World War II, CBO finds

Report comes after huge increase in the deficit this year as government attempted to limit coronavirus fallout By Jeff Stein, Washington Post – September 2, 2020 at 3:15 p.m. MDT For the first time since World War II, the U.S. government’s debt will roughly equal the size of the entire American economy by the end of […]

Federal Borrowing Amid Pandemic Puts U.S. Debt on Path to Exceed World War II

Federal debt, as a share of the economy, hit 98 percent in the 2020 fiscal year. Many economists are pushing lawmakers to add even more to it. By NYT – Jim Tankersley-  September 2, 2020 WASHINGTON — A surge in government borrowing in the face of the pandemic recession has put the United States in a […]